PayByPhone, a wholly-owned subsidiary of Volkswagen Financial Services AG, is one of the fastest-growing mobile payments companies in the world, processing more than £300 million in payments annually. PayByPhone helps drivers easily and securely pay for parking on its website, via a smartphone, or even a smartwatch, without the worry of having to carry change or of their parking session expiring. Registration is quick and easy, and this convenience is improved by features such as personal reminders that keep drivers informed about their parking status, the ability to extend a parking session from anywhere, and emailed receipts.